Biggest Job Gains Going to Older Workers

Older workers have been the biggest beneficiaries of a recent spike in jobs, according to new data released Friday by the Bureau of Labor Statistics. The number of jobholders over age 55 has increased by 1.69 million over the past year to nearly 30.2 million workers, in the biggest surge of any age group. By comparison, the number of jobholders age 25 to 54 has increased by just 322,000 over the same period, even though that group has more than three times as many workers. Dean Baker, an economist with the Center for Economic and Policy Research, attributes the trend to a rising aging population and an increasing number of seniors forgoing retirement out of financial necessity or for the health care benefits that come with a steady job.

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